Remember the saying: if you can’t beat them, join them! George Soros has been a big advocacy against digital currencies and his campaign against bitcoin and other digital currencies has resulted to bitcoin losing 41% in value since his statement against the digital currency.
According to Bloomberg news,

George Soros called cryptocurrencies a bubble in January. Now his $26 billion family office is planning to trade digital assets.
Adam Fisher, who oversees macro investing at New York-based Soros Fund Management, got internal approval to trade virtual coins in the last few months, though he has yet to make a wager, according to people familiar with the matter. A spokesman declined to comment.
Soros, speaking at the World Economic Forum in Davos, said digital coins cannot function as actual currencies because of their volatility. But he didn’t predict the hard tumble that some observers had forecast at the time.
“As long as you have dictatorships on the rise you will have a different ending, because the rulers in those countries will turn to Bitcoin to build a nest egg abroad,” Soros, 87, said on Jan. 25 .

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What made George Soros to change his mind? Is it FOMO (fear of mission out) or a classic example of price manipulation in order to buy cheap from emotional traders? Here is my take on the situation.

FOMO : he probably do not want to miss out in the best next thing after the internet: blockchain technology and thus want to join the vibe before it is too late. Furthermore, however, most large institutional investors (banks, central governments, tech firms) do spread FUD in order for the price of an asset or digital currency to dip so they can buy cheap and HODL-a classic example of greed.

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Click here and read my former post:Steem , bitcoin and Cryptocurrencies lover’s positive mode: A steemit weekend Blog

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